Summit Trail Advisors LLC Purchases 19,693 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Summit Trail Advisors LLC lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 279,609 shares of the company’s stock after buying an additional 19,693 shares during the quarter. Summit Trail Advisors LLC’s holdings in SoFi Technologies were worth $1,848,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Axxcess Wealth Management LLC bought a new position in shares of SoFi Technologies during the 1st quarter worth $185,000. Wells Fargo & Company MN grew its position in shares of SoFi Technologies by 20.9% during the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after buying an additional 493,707 shares in the last quarter. Miracle Mile Advisors LLC grew its position in shares of SoFi Technologies by 3.7% during the 2nd quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock worth $558,000 after buying an additional 3,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after buying an additional 6,870,610 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new position in shares of SoFi Technologies during the 4th quarter worth $38,595,000. Institutional investors own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SOFI shares. BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods dropped their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Barclays dropped their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Trading Down 1.7 %

SoFi Technologies stock opened at $8.05 on Friday. The stock has a 50-day moving average of $7.34 and a two-hundred day moving average of $7.15. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $10.49. The stock has a market cap of $8.51 billion, a PE ratio of -25.97, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. During the same period last year, the business posted ($0.06) earnings per share. The firm’s revenue was up 20.2% compared to the same quarter last year. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.